Pops & Drops: BP, Costco...

Following are the week’s biggest winners and losers. Find out why shares of BP and Costco popped while McGraw-Hill and Alcoa dropped.

POPS (stocks that jumped higher)

Gold Fields (GFI) popped 12% for the week. The gold miners traded in tandem with the spot price of gold, which hit $995 before pulling back. - I don't think owning the miners is the way to get long gold, counsels Joe Terranova.

The Gap (GPS) popped 6%. The jean seller touched a one year high after reporting better than expected same store sales. - Gap at $21 looks rich, says Guy Adami.

Costco (COST) popped 7%. This and other low price stores reported stronger-than-expected sales in August as consumers showed willingness to open their wallet for a bargain.

BP (BP) popped 3%. The company announced a major oil discovery in the Gulf of Mexico.

DROPS (stocks that slid lower)

McGraw-Hill (MHP) dropped 13%. A judge allowed a lawsuit to proceed that potentially holds this company and others liable for not properly revealing the risk of investing in a fund that purchased bonds backed by subprime mortgages. (McGraw-Hill is the parent of S&P) - There's a mob with a pitchfork waiting to take all the ratings agencies down, says Tim Seymour. I'd be careful.

Rambus (RMBS) dropped 12%. A San Francisco judge pushed back a key antitrust case involving the chip designer until next year. - Also, there was takeover chatter in the name says Guy Adami. The lawsuit is negative but the takeover is positive so I'm not sure what to do with the stock.

Alcoa (AA) dropped 3%. The company moved in tandem with the spot price of aluminum, lower. - I think the stock performed well on Friday and I'm a buyer, says Joe Terranova.

Merck (MRK) dropped 5%. As M&A activity began to heat up in the space, investors decided it was a good time to take profits. - Although Obamacare makes me afraid of the space I do like this stock, says Steve Grasso.

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